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Malaysian Tax System - Coggle Diagram
Malaysian Tax System
Sources of Income (ITA 1967)
Section 4(a) Business Income
Section 4(d) Rents, Royalties, Premiums
Section 4A Special Class of Income
Section 4(e) Pension, Annuities and other periodical payment
Section 4(c) Dividends, Interest, Discounts
Section 4(b) Employment
Section 4(f) Others
Sources of Revenue Law
Case Law
Informal Law
Advance Rulings
Public Rulings
Statute Law
Self-assessment system (individual)
6 bi-monthly period
Basis Period
Filing of Returns
Penalty on overdue tax
Failure to submit tax return
Sources of Government Revenue
Non-tax revenue
Direct Tax
Indirect Tax
Inland Revenue Board of Malaysia (IRBM)
Tax advisor to the Government
Collects tax from the public without imposing excessive burden on them
Liaise with appropriate Ministries and statutory bodies in regards to taxation